back to reality..

this 10:90 scheme is different from the 5:95 that was made popular by this very same developer back then, the 'old-team'..

it looks more like a deferred payment scheme, a hybrid converging the DIBS traits and some extent of BTS element.. so very likely that, it has been priced-in for such benefits..

the next question is, to what extent..? if i were to tell the developer that i want to buy it the conventional way, am i entitled to discounts..?

simply put, progressive interest for a stratified prop with 3 years completion, with averaged mthly drawdown for 90% of 850k @ 4.80% would hv priced-in abt 55k..

and more questions, on the terms.. what happens after the 10%-2% dp.. and if i can't get the loan upon completion.. how does it comply to schedule H, is it being altered..?

and the enforcement of cancellation refunds by stages of completion, application of LAD (based on paid portion), and all other provisions under the HDA which does not specifically address deferred payment schemes..

if it is the previous SPS team, i am sure these would have been thought of and preempted..

the product and location aside, just m2c..

this is where i think the line is blurred.. the classification / qualification of sch j is fundamentally different to me.. supposedly to sell only after building it.. this 10:90 scheme by SPS is still considered as pre-selling.. hence, the "hybrid" the connotation.. and this is where the interpretation becomes confusing come VP, how is it being managed, not to use such strong words like "governed"..

m2c..

thx for the clarifications.. exactly my point, they will forfeit the whole 10% AND probably the purchaser will have to read some fine print on the separate "agreement" pertaining to the 10:90 scheme.. i urge to see if "specific performance" is part of the terms, means if market drops further come 3 years, can the developer force the unit onto the purchaser..

under sch H, there is certain provision to protect the purcxhaser on the cancellation / withdrawal depending on the stage of completion.. so, is it really under sch j..? m2c..

i know loh, no need to quote UK.. our neighboring country also have this already, and it is threading a thin line on whether there is any "manipulation" in a better governed property market, the "what if" question..

https://www.ura.gov.sg/uol/media-room/news/...t/pr07-120.aspx

i will be very concerned if ppl buy coz of this scheme, for sake of "cash affordability".. but i believe there is certain attraction in the product proposition itself..

m2c again..

ok boss.. just shooting off my mind..

ok, read.. i am reading the 1st model under the HDA BTS, i'm outdated..

"The second model requires the buyers to pay a 10% deposit upon signing of the sale and purchase agreement and the balance 90% after the property is completed. This model involves a prepayment of 10% before completion of the property, and therefore is governed under HDA".